Experts called the main risks when buying a home in a new building. The rash purchase of an apartment in the primary real estate market now can lead to an overpayment or the need to wait too long for the delivery of a house, reports RBC.
According to CIAN.Analytics specialist Victoria Kiryukhina, due to the increase in the key rate, developers in the Moscow region began to actively revise prices. Before the decision of the Central Bank, the cost changed daily for 5-6 percent of objects, immediately after – for 18-20 percent, and by now – for 44. At the same time, prices are rising, not falling. Experts advise not to agree to a bad deal because of the rush demand.
The changing economic situation in the country also increased the risk of running into a bankrupt developer. Developers proceeded from the old prices when designing houses, but during construction, the cost of building materials increased significantly. Ekaterina Kotova, partner at the law firm Bolshakov&Partners, notes that price fluctuations greatly complicate the work of developers and reduce the possibility of successful completion of construction. If the developer fails to find a source of financing, he will have to stop building the house and violate the deadlines for completion. This leads to claims from creditors and bankruptcy.
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Violation of the deadlines for the delivery of houses can also cause problems for buyers of housing in a new building. The speed of construction of the facility is affected not only by fluctuations in the cost of building materials, but also by interruptions in supplies due to a break in supply chains. For the same reason, it is dangerous to take housing with finishing – developers will have to reorient themselves to Asian markets due to broken ties with suppliers from Europe. Because of this, the quality of repairs in the apartment may not meet the expectations of the buyer.
Taking a mortgage on an apartment with the expectation of repaying part of the loan with funds from the sale of old housing is now also risky – the value of real estate may turn out to be lower than at the beginning of 2022. In this case, the mortgage may not be profitable. The maximum limit on preferential mortgages is three million rubles, which is relevant for a small number of customers due to high Moscow prices, and standard rates are currently close to 20 percent. However, the authorities are revising the terms of a soft loan for housing, so experts advise to postpone the conclusion of a deal at high rates.
In February, the investment director of the Trinfico group, Artem Tsogoev, also urged people not to rush to buy an apartment. The economist noted that not all real estate can become a protective asset. Subsequently, housing prices can drop significantly, so you should be extremely careful in choosing an object.
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